Toncoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/toncoin-surges-12-in-one-day" data-wpel-link="internal" rel="noopener noreferrer nofollow">Toncoin Surges 12% in One Day</a><br></p>
<p style="text-align: justify">Toncoin (TON) has recently captured significant interest in the cryptocurrency market, following a remarkable 12% increase in just 24 hours. This sudden surge has prompted debates on whether TON can break through its main trendline resistance and embark on a new uptrend.</p>
<h2 id="key-drivers-of-toncoin-s-surge">Key Drivers of Toncoin’s Surge</h2>
<p style="text-align: justify">Currently trading at $7.12, Toncoin is eyeing its next crucial resistance level at $7.28. The sustainability of this rise is under meticulous scrutiny by both <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> and traders. The Relative Strength Index (RSI) indicates that Toncoin is nearing the overbought zone, suggesting a potential short-term correction. Interestingly, on-chain data points to an accumulation phase among investors, hinting at a possible further rise.</p>
<h2 id="entry-of-significant-market-players">Entry of Significant Market Players</h2>
<p style="text-align: justify">According to data from IntoTheBlock, significant transactions are taking place, indicating growing interest from major market players. This accumulation phase is often seen as a precursor to a substantial breakout, highlighting increased investor confidence. Additionally, <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that 65.12% of TON addresses are currently profitable, which could encourage investors to hold onto their positions.</p>
<h2 id="investor-strategies-and-considerations">Investor Strategies and Considerations</h2>
<p style="text-align: justify">Despite Toncoin’s recent surge, liquidation data points to a potential risk at the $6.9 level. If prices fall below this threshold, $703,000 worth of TON could be liquidated, escalating market selling pressure. However, sustained buying pressure could initiate a new upward wave without breaching this level.</p>
<p style="text-align: justify">Toncoin’s rise has undoubtedly captivated the cryptocurrency market, but maintaining this momentum requires careful observation from investors.</p>
<p style="text-align: justify">Concrete indicators such as the overbought RSI signal a possible short-term correction. Yet, on-chain data and significant transactions provide a strong case for Toncoin’s future potential.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/toncoin-surges-12-in-one-day" data-wpel-link="internal" rel="noopener noreferrer nofollow">Toncoin Surges 12% in One Day</a></h5>

Toncoin Surges 12% in One Day

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